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  • #61
    Revamp of planned Britomart hotel still over limit

    The developer of Auckland's $1 billion Britomart precinct has scaled back plans for a towering luxury hotel on the waterfront.
    ...
    Mr Cockram said the economic recession counted against a luxury hotel proceeding, but the company would love to build a boutique hotel on the site some time in the future. Residential use was another option.
    ...
    The company is not planning to develop the site in the next couple of years, but is seeking a plan change from the council to extend the building envelope.
    Source: http://www.nzherald.co.nz/commercial...ectid=10588485

    Comment


    • #62
      Office rent cheap, cheap, cheap!

      Location: 131 Queen Street,Auckland
      Property use: Office
      Floor area: 1,174-3700m2
      Parking: approx 10 per floor
      Opposite Vulcan Lane ex Milne & Choice building, excellent carpeted airconditioned space owned by poor simple farmer, (kind thoughtfull lessor). Take part, one, two or three floors. Absolutely the best value in town at $80 m2. Unbelievable value No mistake $80 m2 for quality office space in the absolute centre of cbd, & the best lessor in the business ( ask the other tenants)
      Source: http://www.trademe.co.nz/Browse/List...x?id=234410678

      Unbelievable! Rent can be this cheap these days! I believe the owner is the same guy who advertised in New Zealand Herald some time ago about another building he owns at 48 Ward Street, Hamilton (which incidentally is also listed on Trademe). I remember the ad because he described himself as "Kind, fun-loving Lessor (poor, simple farmer)"

      Just last month CBRE was advertising a unit in the same building for $193,795 on 1,175 sqm or $165/sqm.

      Comment


      • #63
        And his TradeMe name is Supermn nz. And he has an Auckland central phone number. Not sure he is really a farmer!

        But yes it is cheap. This is basically industrial rental levels, but it's a building right in the middle of town. And it has car parking, so there doesn't seem to be any downside to it.
        Squadly dinky do!

        Comment


        • #64
          Inner city loop

          KiwiRail and the Auckland Regional Transport Authority are today announcing a $5 million study, to be funded equally by the two organisations, to find a preferred double-tracked tunnel route from the western end of Britomart Station to Mt Eden.
          ...
          It envisages a $1 billion-plus tunnel to be ready 2020, doubling the capacity of Britomart before it becomes choked by trains having to keep backing out of the station rather than circulating freely through an inner-city loop.
          ...
          KiwiRail network commercial manager Neil Buchanan said the tunnel route would almost certainly reach under the Albert St road reservation to Aotea Square, but the study was needed to determine how best to reach Mt Eden from there.
          Imagine how much foot traffic the inner city loop will bring to Albert St and Aotea Square. More foot traffic means more retail activities.

          Source: http://www.nzherald.co.nz/nz/news/ar...ectid=10593466

          Comment


          • #65
            Commercial property returns plummet to 16-year low

            It found CBD offices had a -5.2 per cent total return in the year to June. A year ago, returns were above 14 per cent.

            "The main driver of negative returns was the continuing writedowns of property values in June valuations. At -11.6 per cent for the 12 months to June, capital growth for New Zealand CBD offices was the lowest recorded since 1993. Income returns have continued to offset capital losses, and have risen slightly to 7.2 per cent for the year to June," the council said.
            So what it is saying is that the cap rate is 7.2% but the capital growth rate is -11.6%. Would you depend on a macro condition (capital growth) to make a purchase decision?

            Source: http://www.nzherald.co.nz/commercial...ectid=10594161

            Comment


            • #66
              'Urban rides' excite planners

              Three potential "great urban rides" through Auckland streets are being considered for hitching the city to the Government's $50 million national cycleway.

              Visitors and local recreational cyclists may be offered a choice between a Ponsonby heritage route, a "volcanic" ride past Mt Eden and Mt Hobson, and a circuit taking in sea air from Waitemata Harbour as an antidote to traffic fumes.
              It looks like one of the routes will pass through the waterfront area: Quay Street, Hobson Street, Customs Street, and Fanshawe Street.

              Getting more people to the waterfront is good, but I'm not sure if I'll risk my life trying to cycle through the waterfront area in competition with the busy traffic, unless there will be a dedicated bike lane.

              Source: http://www.nzherald.co.nz/nz/news/ar...ectid=10595087

              Comment


              • #67
                Deloitte Centre retail stores

                The lower Queen Street area is shaping up to become the premier shopping area.
                Four new international-brand shops open in Auckland's new Deloitte Centre at 80 Queen St at the end of this month.

                The shops opening on October 30 will sell clothes and shoes and North Face will also sell tents, sleeping bags, backpacks and outdoor equipment.

                Lacoste is being fitted out on the Queen/Fort St corner.

                The fitout of Ben Sherman on the Fort/Jean Batten Place corner is well under way in a British theme. Fitting rooms are like a gentleman's library.

                Shoes are already being put on shelves at Rockport on Jean Batten Place.

                North Face on the Jean Batten Place/Shortland St corner is almost finished and the back wall of its four changing rooms sport one image of Mt Everest climbers.

                The shops complete Brookfield Multiplex's $200 million development of the 21-level tower tenanted by BNZ and Deloitte.

                BNZ has opened its new-look retail outlet on the Queen St frontage and espresso business Altezano has opened a cafe in the triple-height entrance foyer to the offices on the Queen/Shortland St corner.
                Source: http://www.nzherald.co.nz/business/n...ectid=10604178

                Comment


                • #68
                  Cruise ship visits to CBD increasing

                  In the 1996/97 cruise season fewer than 20,000 people visited New Zealand by cruise ship. By 2008/09 it had grow to a record 116,000. This season the numbers are expected to be down to 105,000 as the result of one liner delaying its cruises until next year as a result of the economic recession. But Harris says next season - which starts in October this year - will be another record breaker with cruise visitors expected to top 130,000 people.
                  Source: http://www.nzherald.co.nz/business/n...0619446&pnum=0

                  This equates to about 20% growth per year, which is impressive. There will be impact of over 100,000 tourists to Auckland CBD's retail and hotel businesses

                  Comment


                  • #69
                    Thanks for all the posts Fudosan

                    Comment


                    • #70
                      It's a good feeling to be appreicated. Thanks for the kind words, Markw1

                      Comment


                      • #71
                        Queens Wharf as cruise terminal decided?

                        I feel this is more or less a done deal, where the commerical interests (cruise terminal) will override the public desire (public space). The fact that a winning design was decided but never announced is a good hint.


                        Last night, Mr McCully said the Government was considering options for Queens Wharf, including improving the winning design competition entry to build a cruise ship terminal and turn the wharf into "party central" for the cup tournament next year.
                        ...
                        ARC chairman Mike Lee said the council was determined to proceed with a cruise ship terminal for Queens Wharf, ideally in time for the World Cup, if the design was good enough.
                        ...
                        Mr Banks favours sprucing up Queens Wharf for the cup tournament, and has said that if he became mayor of the Super City he would like to build an international convention centre, hotel and cruise ship terminal further east, at Bledisloe Wharf.
                        ...
                        A joint entry from architects Jasmax and Architectus was the winning design for the original $47 million budget. But the winner was never announced.
                        Source: http://www.nzherald.co.nz/nz/news/ar...0619673&pnum=0

                        Comment


                        • #72
                          More news on waterfront heritage trams

                          Heritage trams could be gracing Auckland's waterfront in time for the Rugby World Cup as the Auckland Regional Council looks into light rail options.
                          ...
                          The ARC transport and urban development committee received a study last month looking into the feasibility of a tramway system along the waterfront to link Wynyard Quarter with Britomart.
                          ...
                          An attachment to the committee's agenda says: "Given the continued development of the Auckland waterfront and the anticipated extent of visitor attractions, it may be feasible to construct a tourist focused route using heritage vehicles, running from Britomart, along Quay St, to Wynyard Quarter.
                          ...
                          This could total $3m for the vehicles plus $750,000 a year for running costs.
                          Source: http://www.stuff.co.nz/auckland/loca...ckland-streets

                          I think the cost at $3m can be afforded. While no decision has been made yet, I won't be surprised if it goes ahead, as anything to do with the Rugby World Cup may get special consideration.

                          Comment


                          • #73
                            Has anyone heard anything from new the proposed redevelopment of Westfield Downtown?

                            Comment


                            • #74
                              This is not official confirmation but my understanding only:

                              The 50,000sqm Westfield Tower was expected to be finished by 2013, but the project has been put on hold until at least 2011. With the office vacancy standing at 11.5% and still rising rapidly, I don't think the project will take off soon. There's already a lot of premium office space available. I hear the brand new building at 21 Queen St still has over 10,000sqm of vacant space.

                              The last office announcement I know is from a NZ Herald article "Downtown still on: Westfield" dated Sep 3, 2008.

                              Hope this helps.

                              Comment


                              • #75
                                800m promenade suggested for Auckland waterfront

                                Creating an 800m public promenade along Auckland's Quay St with a giant floating screen has been suggested as an alternative to Prime Minister John Key's "party central" plans for Queens Wharf.
                                ...
                                The promenade - fronting Britomart - would be lined with trees and hedges and include seating and lighting. The existing four lanes of road, 20m wide, would stay.
                                Source: http://www.nzherald.co.nz/nz/news/ar...ectid=10620079

                                I like this idea. This plan will really help raise Quay Street as the center of Auckland CBD.

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